Jun 23, 2022 - Real Estate

Apartments coming to historic downtown tower

Illustration of the state of Ohio, with scaffolding in front.
Illustration: Allie Carl/Axios

A $5 million historic preservation tax credit is helping redevelop a vacant downtown tower into new residential and commercial space.

State of play: The $89 million project involves building 336 apartment units and commercial spots on the lower floors of the 26-story Continental Center property.

  • Located at the corner of Gay and Fourth streets, the building was once the headquarters of Ohio Bell Southwestern.
  • Its last business tenants departed during the pandemic.

Driving the news: The state announced nearly $40 million in tax credits to aid with rehabilitating dozens of historic buildings across Ohio, including this $5 million.

Separately, the state is chipping in $243,000 to restore an old railroad depot on Delaware's Lake Street into a bar and restaurant.

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